Economics Today and Tomorrow, Student Edition
1st Edition
ISBN: 9780078747663
Author: McGraw-Hill
Publisher: Glencoe/McGraw-Hill School Pub Co
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Question
Chapter 11, Problem 23AA
a.
To determine
To identify: The two men in the cartoon.
a.
Expert Solution
Explanation of Solution
Product life cycle refers to the four stages that each product go through from being introduced in the market to the time it is withdrawn from the market.
The two men here are discussing about the marketing of the product. Therefore, it seems like the one sitting on the chair is the owner of the company while the one speaking about product market testing is the
b.
To determine
To identify: The process described by the speaker.
b.
Expert Solution
Explanation of Solution
The speaker describes the process of testing the product and getting clearance regarding the legality of the product. It is the process of product improvement so that product can stay survive in the market and is not withdrawn.
c.
To determine
To identify: The flaw indicated by the speaker.
c.
Expert Solution
Explanation of Solution
The speaker was informing about the successful test marketing of the product and clearing the legal hurdles of the product too. Although, the flaw indicated here is that the product is now outdated i.e. even if it is introduced in the market, it won’t work in the market as it has now become obsolete.
Chapter 11 Solutions
Economics Today and Tomorrow, Student Edition
Ch. 11.1 - Prob. 1RCh. 11.1 - Prob. 2RCh. 11.1 - Prob. 3RCh. 11.1 - Prob. 4RCh. 11.1 - Prob. 5RCh. 11.1 - Prob. 6RCh. 11.2 - Prob. 1RCh. 11.2 - Prob. 2RCh. 11.2 - Prob. 3RCh. 11.2 - Prob. 4R
Ch. 11.2 - Prob. 5RCh. 11.3 - Prob. 1RCh. 11.3 - Prob. 2RCh. 11.3 - Prob. 3RCh. 11.3 - Prob. 4RCh. 11 - Prob. 1AACh. 11 - Prob. 2AACh. 11 - Prob. 3AACh. 11 - Prob. 4AACh. 11 - Prob. 5AACh. 11 - Prob. 6AACh. 11 - Prob. 7AACh. 11 - Prob. 8AACh. 11 - Prob. 9AACh. 11 - Prob. 10AACh. 11 - Prob. 11AACh. 11 - Prob. 12AACh. 11 - Prob. 13AACh. 11 - Prob. 14AACh. 11 - Prob. 15AACh. 11 - Prob. 16AACh. 11 - Prob. 17AACh. 11 - Prob. 18AACh. 11 - Prob. 19AACh. 11 - Prob. 20AACh. 11 - Prob. 21AACh. 11 - Prob. 22AACh. 11 - Prob. 23AA
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